The following materials standards have been established for a particular product: Standard quantity per unit of output 5.5 pounds Standard price $14.30 per pound The following data pertain to operations concerning the product for the last month: Actual materials purchased 6,450 pounds Actual cost of materials purchased $63,980 Actual materials used in production 5,950 pounds Actual output 810 units The direct materials purchases variance is computed when the materials are purchased. What is the materials quantity variance for the month

correct, but each time you dont pay the price of the penalty can increase.

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the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.